Los Angeles Capital Management LLC Boosts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Los Angeles Capital Management LLC increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 13,733.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,545 shares of the semiconductor company’s stock after acquiring an additional 351,982 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Analog Devices were worth $80,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Analog Devices by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after acquiring an additional 21,522 shares during the period. Point72 Italy S.r.l. bought a new position in Analog Devices in the 4th quarter worth approximately $6,367,000. Grayhawk Investment Strategies Inc. purchased a new stake in Analog Devices during the 4th quarter valued at approximately $850,000. Capital International Investors raised its position in shares of Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after buying an additional 246,799 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its holdings in shares of Analog Devices by 1,055.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after buying an additional 208,522 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 2.5 %

Shares of ADI traded down $5.42 during trading hours on Friday, reaching $213.64. 3,437,085 shares of the company traded hands, compared to its average volume of 3,368,705. The stock’s fifty day moving average price is $225.39 and its 200 day moving average price is $213.80. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market cap of $106.01 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 3.91 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. Sell-side analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.92 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.72%. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Analog Devices news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the transaction, the director now owns 4,748 shares in the company, valued at $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The disclosure for this sale can be found here. Insiders sold a total of 49,107 shares of company stock valued at $11,301,610 over the last three months. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADI shares. Barclays raised their target price on shares of Analog Devices from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Jefferies Financial Group assumed coverage on Analog Devices in a research note on Monday, May 13th. They set a “buy” rating and a $250.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Truist Financial lowered their target price on Analog Devices from $275.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.45.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.